LA SMALA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LA SMALA
Largest movements
- Tangible fixed assets -€17,942
down €17,942 (-4.1%), from €441,127 to €423,185
of which Land and buildings: -€25,530
- Receivables within one year -€7,402
down €7,402 (-43.3%), from €17,095 to €9,693
- Profit (loss) carried forward +€30,247
up €30,247 (+32.7%), from €92,428 to €122,675
- Short-term financial debts -€27,945
down €27,945 (-9.6%), from €291,145 to €263,200
- Other debts -€25,218
down €25,218 (-59.0%), from €42,750 to €17,532
- Financial charges -€6,793
down €6,793 (-35.4%), from €19,201 to €12,408
- Gross operating margin +€3,330
up €3,330 (+3.9%), from €84,444 to €87,774
- Taxes +€2,536
up €2,536 (+52.5%), from €4,830 to €7,366
- Depreciation -€1,897
down €1,897 (-6.8%), from €27,745 to €25,847
- Other operating charges -€1,070
down €1,070 (-8.1%), from €13,280 to €12,210
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €466,602 | €438,608 | -€27,994 | -6.0% |
| Fixed assets | 21/28 | €441,251 | €423,308 | -€17,942 | -4.1% |
| Tangible fixed assets | 22/27 | €441,127 | €423,185 | -€17,942 | -4.1% |
| Land and buildings | 22 | €441,127 | €415,597 | -€25,530 | -5.8% |
| Plant, machinery and equipment | 23 | - | €7,588 | +€7,588 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €25,351 | €15,299 | -€10,052 | -39.7% |
| Amounts receivable within one year | 40/41 | €17,095 | €9,693 | -€7,402 | -43.3% |
| Other amounts receivable | 41 | €17,095 | €9,693 | -€7,402 | -43.3% |
| Cash at bank and in hand | 54/58 | €6,087 | €3,284 | -€2,803 | -46.1% |
| Deferred charges and accrued income | 490/1 | €2,169 | €2,322 | +€153 | +7.1% |
| Total equity and liabilities | 10/49 | €466,602 | €438,608 | -€27,994 | -6.0% |
| Equity | 10/15 | €114,428 | €144,675 | +€30,247 | +26.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,428 | €122,675 | +€30,247 | +32.7% |
| Amounts payable | 17/49 | €352,174 | €293,933 | -€58,241 | -16.5% |
| Amounts payable after more than one year | 17 | €4,878 | €4,878 | = | 0.0% |
| Other amounts payable | 178/9 | €4,878 | €4,878 | = | 0.0% |
| Amounts payable within one year | 42/48 | €347,250 | €289,030 | -€58,221 | -16.8% |
| Financial debts | 43 | €291,145 | €263,200 | -€27,945 | -9.6% |
| Credit institutions | 430/8 | €291,145 | €263,200 | -€27,945 | -9.6% |
| Trade debts | 44 | €6,013 | €2,830 | -€3,183 | -52.9% |
| Suppliers | 440/4 | €6,013 | €2,830 | -€3,183 | -52.9% |
| Taxes, remuneration and social security | 45 | €7,342 | €5,467 | -€1,875 | -25.5% |
| Taxes | 450/3 | €7,342 | €5,467 | -€1,875 | -25.5% |
| Other amounts payable | 47/48 | €42,750 | €17,532 | -€25,218 | -59.0% |
| Accrued charges and deferred income | 492/3 | €45 | €25 | -€20 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,745 | €25,847 | -€1,897 | -6.8% |
| Other operating charges | 640/8 | €13,280 | €12,210 | -€1,070 | -8.1% |
| Gross operating margin | 9900 | €84,444 | €87,774 | +€3,330 | +3.9% |
| Operating profit (loss) | 9901 | €43,419 | €49,716 | +€6,297 | +14.5% |
| Financial income | 75/76B | €220 | €304 | +€85 | +38.6% |
| Recurring financial income | 75 | €220 | €304 | +€85 | +38.6% |
| Financial charges | 65/66B | €19,201 | €12,408 | -€6,793 | -35.4% |
| Recurring financial charges | 65 | €19,201 | €12,408 | -€6,793 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €24,437 | €37,612 | +€13,175 | +53.9% |
| Income taxes | 67/77 | €4,830 | €7,366 | +€2,536 | +52.5% |
| Profit (loss) for the period | 9904 | €19,608 | €30,247 | +€10,639 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,608 | €30,247 | +€10,639 | +54.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.